Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below: Sales$18,010,000?Net operating income$810,450?Average operating assets$4,530,000?The division's turnover is closest to:
A. 5.59
B. 22.22
C. 0.18
D. 3.98
Answer: D
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Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net loss of $6,000 is allocated to Yolanda?
a. $1,000 b. $3,000 c. $5,000 d. $0
________ cards are used to control the amount of work in a work center, aiding input-output control
Fill in the blanks with correct word
[The following information applies to the questions displayed below.] Riley Company borrowed $36,000 on April 1, Year 1 from Titan Bank. The note issued by Riley carried a one-year term and a 7% annual interest rate. Riley earned cash revenues of $1,700 during Year 1 and $1,400 during Year 2. Assume no other transactions.Based on this information alone, what amount of cash flow from operating activities would appear on the Year 2 statement of cash flows?
A. $770 inflow B. $1,120 outflow C. $1,400 inflow D. $38,520 outflow
Farm2Fork, LLC, is a limited liability company. Rather than distribute its profits to its members, Energy wants to reinvest the profits in its business. For this reason, Energy may prefer to be taxed as
A. a corporation. B. a partnership. C. a sole proprietorship. D. a business trust.